What type of benefits are included in Other Post-Employment Benefits (OPEB)?

Other Post-Employment Benefits (OPEB) primarily refer to benefits that employees receive after they retire, which are not included in pension plans. The most significant component of OPEB is retirement health benefits, which can encompass medical, dental, and vision coverage provided by an employer to its retirees.

These retirement health benefits are crucial for retirees, as they often represent a substantial cost for individuals and can significantly affect their quality of life post-retirement. OPEB can also include life insurance and other benefits, but the main focus is typically on health-related coverage.

In contrast, the other options mentioned refer to different types of benefits that are not considered OPEB. Pension benefits pertain specifically to retirement income based on an individual's earnings and years of service, while long-term disability payments and wage replacement benefits are related to income stability during periods of disability or unemployment, rather than post-employment health benefits. Thus, retirement health benefits stand out as the defining characteristic of OPEB.